Macerich’s The Oaks Property Receives BREEAM USA In-Use Certification

03/08/2017

Macerich (NYSE: MAC) announced on March 8 that one of its shopping centers has been named as the first Building Research Establishment Environmental Assessment Methodology (BREEAM) USA In-Use certified building in the United States.

Macerich’s The Oaks property in Thousand Oaks, California, received the designation.

BREEAM USA In-Use is a sustainability assessment method for existing non-residential buildings that are not currently able to benchmark sustainability efforts using a scientifically based green building certification. BREEAM USA is a partnership between BRE Group and BuildingWise, a LEED certification consultancy.

Macerich, which was named a 2016 NAREIT Leader in the Light Award winner in the retail segment, said it plans to certify additional properties with the BREEAM USA In-Use program.

(Contact: Fulya Kocak at fkocak@nareit.com)

Get Nareit Developments blog posts delivered straight to your inbox.

You Might Also Like...

What's a REIT?

REITs, or real estate investment trusts, are companies that own or finance income-producing real estate across a range of property sectors. These real estate companies have to meet a number of requirements to qualify as REITs. Most REITs trade on major stock exchanges, and they offer a number of benefits to investors.

Why Invest in REITs

REITs historically have delivered competitive total returns, based on high, steady dividend income and long-term capital appreciation. Their comparatively low correlation with other assets also makes them an excellent portfolio diversifier that can help reduce overall portfolio risk and increase returns. These are the characteristics of real estate investment.

About Nareit

Nareit serves as the worldwide representative voice for REITs and real estate companies with an interest in U.S. real estate. Nareit’s members are REITs and other real estate companies throughout the world that own, operate, and finance income-producing real estate, as well as those firms and individuals who advise, study, and service those businesses.